Over the past few weeks, major television networks and newspapers have taken notice of the many features and benefits of credit unions over big banks, and the media has been filled with stories touting the advantage of the credit union difference.
In a feature entitled “Switch to Credit Unions, Avoid Bank Fees” on ABC’s World News Tonight, Diane Sawyer noted that many consumers are transferring their loyalties from major banks to smaller financial institutions to avoid escalating credit card rates.
Arianna Huffington, owner of The Huffington Post, has created a Move Your Money project that encourages consumers to bid farewell to big banks and deposit their money in credit unions and community banks. Click here to learn more about the Move Your Money project.
On CNN, financial advisor Suze Orman highlighted the interest-saving benefits of obtaining a credit card from a credit union. Click here to learn more.
The Washington Post recommended that homeowners who want to refinance a mortgage talk to several lenders—including a credit union.
Steve Brobeck, executive director of the Consumer Federation of America, recently told CBS, “credit unions charge lower fees and loan rates than banks and pay higher savings yields.” Click here to read more.
At SMCU, we have always stressed the cost-efficiency of belonging to a financial cooperative that channels profits back to its members. We’re delighted to see that others in positions of financial authority agree.
